Research

Vodacom Q3 26 – Another solid quarter; Better IB, solid Egypt

Uber Model Update

Infineon 1FQ26: AI momentum confirmed, guide implies cyclical recovery in 2H. Upside into 2027.

AIS (Buy) – Q4 25 Quick Take: Strong print but slower growth outlook. Upgrade PT

TalkTalk: Post-Q3 model update: The customer growth vs. SAC trade-off

Singtel – STT GDC acquisition – Strategically sensible, but near term share price consolidation likely

MTCH: Turnaround continues but Tinder monetization inflection still not on the horizon

ASPEED (5274 TT) Rubin Content & BT Constraints Call Notes

Anticipating the memory supply-demand balance of 2026, on a single slide

Telia (Buy): RAN sharing deal a nice support (a negative for Telenor)

Indus Towers – Q3 FY26 Quick Take: Still committed to Africa

T Threats Limited in Senate FirstNet Hearing; House Hearing This Week

Rumored Tax Increase on Internet Firms: Our Take

TalkTalk Q3: Financial guidance intact, but customer volumes weaker – Quick Take

Nexfibre to buy Netomnia? Our Take

Nokia 4Q25: Infrastructure momentum reflected in expectations. 2026 EBIT guided below at the midpoint. Buy, €6.3

T Quick Hit: AT&T closes Lumen fiber transaction

Elisa post Q4 25 model update – Difficult outlook, fairly priced

VZ Quick Hit: Sampath out?

Where is the cost of HBM going? A perspective on a single slide.